Letting an agent steal nearly €70,000 from tenants’ deposits to fund gambling addiction avoids a prison sentence


A permitting agent who stole almost €70,000 in renter’s deposit from his employer over a two-year period to fund his gambling addiction has received a full suspended sentence. .

ichard Power (35 years old) regularly logs into his authorized agent owner’s system and changes the bank account details of the tenants who paid the deposit at the start of the lease and due for the return, Dublin Circuit Criminal Court said.

Power changed the tenant’s bank details to his own personal bank account details in order to receive the refundable deposit, Garda Dabhach Dineen told Diana Stuart BL, indicted. Then he switched back the account details before anyone noticed.

Power, with an address in Tudor Lawns, Foxrock, Dublin, pleaded guilty to one count of stealing from his owner, Wyse Property Management Ltd, between June 2018 and June 2020. stolen up to € 69,530, the court heard . He has no previous convictions.

Through today’s sentencing, Judge Elma Sheahan noted that Power has now returned all but approximately €7,500 of the stolen funds through a combination of his own savings and money from his parents. .

The judge said his addiction to gambling doesn’t excuse the transgression, but it does put it in context. She said she had no doubt he learned a valuable lesson and paid the price for what he did.

Judge Sheahan sentenced Power to three years in prison, but suspended the entire sentence under strict conditions, including that he must pay back the balance within six months.

At the previous sentencing hearing, Gda Dineen said Power had been authorized by the company hiring as chief bargaining officer for four years. His duties include viewing and inspecting the property, drawing up leases, and communicating with tenants. He has 75 to 80 properties in his portfolio.

In May 2020, his supervisor became aware of tenants awaiting deposit refunds and who could not be reached with Power. When the custodian discovered no security deposit was being held for the tenants, an inspection was required of all Power properties.

Several anomalies were detected and Power was called in for a meeting. He admitted he manipulated accounts and stole money from the company to fund his gambling addiction. He says he is being counseled for this addiction.

Soon after, Power reimbursed its employer €10,000, the court heard. He is currently unemployed, lives on a property of his parents and is paying pandemic unemployment benefits.

He has since lost his property management license and been fined €5,000.

Dean Kelly SC, security, said Power cooperated fully with gardaí when they interviewed him about the theft. He told them, “I just want to tell the truth.”

Mr. Kelly said Power gambled “constantly” with friends, which is common among young men in their twenties and thirties.

“No sport is watched, no company is kept without gambling,” Mr. Kelly said. Power also incurs debt to play card games, the court hears.

Mr. Kelly said Power had suffered from mental health issues and was continuing his rehabilitation. The court heard him not to repeat the offence. Letting an agent steal nearly €70,000 from tenants’ deposits to fund gambling addiction avoids a prison sentence

Fry Electronics Team

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